$FTM: Cryoto Analytics Firm Santiment Explains Why It Is Bullish on Fantom | Cryptoglobe

Santiment, a prominent crypto analytics firm, recently analyzed the performance of Fantom ($FTM).

Here is a little introduction by the Fantom team to this exciting crypto project:

“Fantom is a high-performance, scalable, EVM-compatible, and secure smart-contract platform. Fantom’s mainnet deployment—Fantom Opera—is built on Fantom’s consensus mechanism, Lachesis. Fantom is a leaderless, asynchronous, and byzantine fault-tolerant Layer 1 blockchain protocol. Lachesis enables Fantom to deliver fast transaction speeds, low transaction costs, and deterministic finality. This is achieved while remaining permissionless, decentralized, and open-source...

“Lachesis represents one layer, the consensus, of the blockchain technology stack and can be plugged into any distributed ledger.
Lachesis powers Fantom’s Opera mainnet deployment, that uses the Ethereum Virtual Machine (EVM) and it’s compatible with Ethereum. The modularity makes Fantom exceptionally flexible. Developers can port their existing Ethereum-based dApps on Fantom Opera mainnet in a matter of minutes, substantially upgrading the performance and lowering the costs.“

In a post in Santiments’ Insights blog that was published on 1 February 2023, the firm noted that the trading volume of $FTM has not cooled down, despite prices rising rapidly. This, according to Santiment, is a positive sign that the rally still has some momentum.

Additionally, the firm found that the average age of investment for $FTM dropped significantly in the second half of February, indicating that dormant coins are being activated and contributing to the price rise. The post also mentions that whale transactions were observed around January 19th and 20th, which may have further fueled the price surge.

However, the post cautions that the 30-day MVRV (Market Value To Realized Value) of Fantom is currently at +58%, which is a danger area according to Santiment as a 30-day MVRV over +20% is typically a warning signal.

Despite this, the firm’s overall outlook for $FTM is positive, with the most likely scenario being “a short or mid term cooldown”, but a promising long-term perspective, especially considering the recent movement of dormant coins. Santiment believes that this could be a good year for $FTM, along with other altcoins in general.